The lowest available rent for the studio layout Walker advertised for $1,585 was $1,938. The most recent broker “hot sheet” sent out by SoNo East stated the rent at $1,935. Rents at the property are continually re-priced by YieldStar, which could account for the $3 difference. Why wouldn’t Walker check the near real-time price and availability at SoNo East’s website before running an ad? What accounts for Walker’s $350 a month difference other than a deliberate bait-and-switch lie? Why is Walker even advertising this property when he doesn’t have the legally-required authority to do so?

I’ve been told that $1,600 a month is the “sweet spot” that many studio renters are currently trying to hit in the downtown market. Walker hit it.

Walker’s ads stated that “There isn’t a better price for a studio of this quality anywhere in the beautiful Old Town neighborhood …” That’s true of the price Walker advertised, but not true in the marketplace.

A larger convertible studio with a superior floor plan, better closet space and a balcony was available for $1,716 at 1225 Old Town at the time I checked – just after checking in at SoNo East.

1225 Old Town is in Old Town, in a very attractive location and has finishes and amenities that compare favorably with SoNo East.

1225 Old Town is a YoChicago advertiser. You can tour the apartments, the amenities and the neighborhood in the above video, and you can get near real-time pricing and availability info at 1225′s website.

Tip: Add the following string to any apartment search you’re performing at Craigslist and you won’t see any of Walker’s or CPG’s more than 4,500 spam ads in your results: – “Chicagoland Property Group”